Office of Space Commerce’s Post

Intern Insight #11 by OSC’s student intern Chad McElroy: In September, I was fortunate enough to attend the American Bar Association’s Aviation & Aerospace Law Conference and hear a keynote speech by Gabriel Swiney, OSC’s Policy, Advocacy, and International Division (PAID) Director. I was previously unaware that the issue of insurance was a crucial, ongoing discussion in the field of space policy. Commercial enterprises often purchase insurance for their missions to mitigate the financial risks of spaceflight. For the government, on the other hand, “insurance” is essentially provided by the American taxpayer via replacement missions. I learned there are a moderate number of insurance providers supporting a market of about $500 million for insuring commercial satellites. However, as programs such as NASA’s Commercial LEO Destinations ramp up, commercial entities are expected to manufacture spacecraft that are more expensive than ever. There may be single-launch commercial missions costing over $1 billion. This imbalance of supply and demand presents an issue not only for commercial enterprises seeking to insure their missions, but also for Congress and government agencies who may seek to support the space insurance industry.

  • Headshot of Chad McElroy | OSC logo | Intern Insight | Gabriel Swiney speaking at a podium before a seated audience

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